2025.03.18 [March 18] Yen selling continues with 150 yen approaching
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Recap of previous trading day (March 17)
Yesterday the USDJPY generally moved in the upper 148-yen range, and even after exceeding 149 yen shortly after GMT 04:30, it fell back.
When the U.S. February retail sales came in at 0.2%, weaker than the expected 0.6%, at GMT 00:30, the price fluctuated significantly, hitting a low of 148.26 yen. It subsequently turned upward, reaching a high of 149.28 yen around GMT 19:30, and trading for the day closed at 149.13 yen.
Recap of the Tokyo market and outlook going forward
Today the USDJPY has been firm with the opening price of 149.13 yen as the low, but as of GMT 04:00, the rise has paused near the 149.7 yen level.
Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on March 18), it shows an upward Bollinger Band walk after breaking out of its range. If it exceeds the critical level of 150 yen, it's likely to continue pursuing higher prices.
The main economic indicators for today are as follows:
- Time undefined U.S. Federal Open Market Committee (FOMC) Day 1
- GMT 12:30 U.S. February Housing starts
- GMT 12:30 U.S. February Building permits
- GMT 13:15 U.S. February Industrial production
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